Stitch Fix (NASDAQ:SFIX) Price Target Raised to $6.00

Key Points

• UBS Group has increased its price target for Stitch Fix (NASDAQ:SFIX) from $5.00 to $6.00, indicating a potential upside of 6.69% from the current price while maintaining a "neutral" rating.
• Several analysts have varying ratings on Stitch Fix, with one reporting a buy rating and four issuing a hold rating; the consensus price target remains at $6.00.
• Insider activity has been notable, with Director Katrina Lake and another insider selling a total of over $2.7 million in shares recently, impacting their ownership stakes significantly.

Stitch Fix (NASDAQ:SFIX - Get Free Report) had its price target increased by equities researchers at UBS Group from $5.00 to $6.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has a "hold" rating on the stock. UBS Group's price objective indicates a potential upside of 9.29% from the company's current price.

Several other research analysts also recently weighed in on SFIX. Telsey Advisory Group restated a "market perform" rating and issued a $6.00 target price on shares of Stitch Fix in a research note on Wednesday, June 11th. Zacks Research upgraded shares of Stitch Fix to a "hold" rating in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Stitch Fix from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, William Blair upgraded shares of Stitch Fix from a "market perform" rating to an "outperform" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.00.

Stitch Fix Trading Up 0.2%

Shares of SFIX stock opened at $5.49 on Wednesday. The company has a market capitalization of $716.39 million, a PE ratio of -11.93 and a beta of 2.03. The firm has a fifty day simple moving average of $5.02 and a 200-day simple moving average of $4.20. Stitch Fix has a twelve month low of $2.21 and a twelve month high of $6.99.

Insider Buying and Selling

In other Stitch Fix news, Director Katrina Lake sold 151,150 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $5.03, for a total value of $760,284.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Casey O'connor sold 31,248 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $5.34, for a total value of $166,864.32. Following the completion of the sale, the insider directly owned 498,621 shares in the company, valued at $2,662,636.14. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 957,536 shares of company stock valued at $4,845,302 over the last three months. Corporate insiders own 16.95% of the company's stock.

Institutional Investors Weigh In On Stitch Fix

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in Stitch Fix by 29.2% in the first quarter. Russell Investments Group Ltd. now owns 328,342 shares of the company's stock worth $1,067,000 after buying an additional 74,142 shares during the period. Caption Management LLC acquired a new stake in Stitch Fix in the first quarter worth $216,000. Point72 Asset Management L.P. acquired a new stake in Stitch Fix in the fourth quarter worth $353,000. Nuveen LLC acquired a new stake in Stitch Fix in the first quarter worth $4,159,000. Finally, Vanguard Group Inc. grew its stake in shares of Stitch Fix by 7.9% in the first quarter. Vanguard Group Inc. now owns 6,982,536 shares of the company's stock worth $22,693,000 after purchasing an additional 513,422 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.